Do You Have Legacy Objectives?

April 8, 2011

Intelligent planning sometimes involves the necessity to work backwards, identifying your long-term goals and then acting appropriately as you walk the path toward achieving them. When it comes to estate planning there are a couple approaches that you can take. Most of us have seen a car passing by us at some point in our lives with a bumper sticker saying something about how the driver is spending the children's inheritance. This is a statement that defines the approach that some people take to their legacies. They intend to spend as much as they can as long as they can make it through their own lives with no particular concern about what may be left over for their children and the rest of their families.
On the other hand, some people take an entirely different approach. As you get into your twilight years and the reality of the end of your life comes into more clear focus you may get that moment of clarity when you truly come face-to-face with your own mortality. Many people who are in this situation find that their own passing is something that they can readily accept, but what is difficult to get past is the reality that they will no longer be able to help their family members should need arise once they pass away. This realization can add a dimension to one's view of estate planning because your legacy is going to be your final opportunity to provide for those you love.
How you choose to approach inheritance planning is a personal matter and no one can say with certainty what is right and what is wrong for the next person. One thing that is certain in all cases is that the best way to optimize your resources and achieve your goals regardless of what they may be is with the assistance of an experienced and dedicated Nevada estate planning attorney.

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